1821 Sheffield Dr · Ypsilanti, MI 48198

$155,000

2 bd · 1.0 ba · 906 sqft · Condo public records · 6 Days on market

Built 1973 $450/mo HOA · 27% of rent

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Why this score? — see what drove the D- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +8.5/30.0
• ARV discount +7.5/15.0
• 1% rule +5.8/10.0
• Livability +4.0/5.0
• Rent growth +3.6/5.0
• Condition / age +2.5/5.0
• DSCR +2.3/10.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This inviting colonial-style end unit condo in Lakeview Estates offers the perfect blend of privacy and community amenities. The main floor features extra natural light in an open floorplan with brand-new flooring (2026) throughout the living room, dining room, and kitchen, while a large doorwall opens from the dining area to your own private, fenced deck - ideal for quiet mornings or summer hosting. Residents also enjoy access to the association's clubhouse and pool, along with the convenience of two dedicated parking spaces, including one covered carport. The living space extends into a finished basement featuring a recreation room, a custom bar area, and a half-bathroom. Beyond the aesthetic updates, the list of recent improvements includes: New water heater (2019), New Furnace and Refrigerator (2022), and New windows in the Living room, back bedroom, kitchen, and basement (2024). Ideally located in Superior Township for study, work, and play, you are just 3 miles from Eastern Michigan University, 2.5 miles from Hyundai America Technical Center, and 1.5 miles from LeFurge Woods Nature Preserve!

Key facts

• $450 HOA
• Community pool
• Built 1973

Property features AI

Finance

• Other: Pets allowed (cats and dogs; with number limit); Subdivision: LAKEVIEW ESTATES CONDO; Directions: From N Prospect, go east on Berkshire Dr., right on Sheffield
• HOA & community: Homeowners association with monthly fee of $450; HOA covers grounds and structure maintenance, sewer, snow removal, trash, and water

Exterior

• Parking: No garage; Carport; Assigned parking
• Utilities: Public water; Public sewer
• Home design: Condominium; Residential property; Two levels; Ground-level entry with steps; Brick construction
• Construction: Brick construction; Asphalt roof; Finished above-grade and below-grade living space
• Exterior features: Deck; Fenced yard; Community in-ground pool; Clubhouse; Sidewalks; Paved road access

Interior

• Kitchen: Dishwasher; Free-standing electric range; Free-standing refrigerator; Microwave
• Bedrooms: Total of 7 rooms (bedroom count not specified)
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central air; Ceiling fan(s); Forced air heating; Natural gas
• Interior features: Dishwasher; Free-standing electric range; Free-standing refrigerator; Microwave; Finished full basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $155k.

Deal economics

• At list price, monthly cash flow is $-136 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $131k (15.5% below list).
• Meets the 1% rule at list price ($2k rent vs $155k).
• Recommended offer: $131k (15.5% below list) — sets the bar for cash-flow.
• Cap rate 5.2% vs local median 3.8% in Ypsilanti — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 81/100 on livability (#71 in MI, #1,539 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: crime F, employment D-.
• Ypsilanti Community Schools (suburban): math 11% / reading 20% proficiency, ranked #501 of 540 in MI (top 93%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 69% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+4.4%/yr); 166 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; 996 units permitted in Washtenaw County in 2024 (492 in 5+ unit buildings).
• This rent runs 32% of the median local income ($63k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Washtenaw County population projected at +25% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 12y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $105k; 48% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 27% of rent.

Recommended offer $130,957 (15.5% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
9. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
10. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
11. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
12. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
13. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.08% ✓
• Cap rate: 5.24%
• Cash-on-cash: -3.76%
• DSCR: 0.83
• GRM: 7.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.38% rent growth · sell at horizon

5-year hold

• IRR: -20.3%
• Equity multiple: 0.28×
• Total profit: $-31,165
• Equity at exit: $23,111

10-year hold

• IRR: -9.4%
• Equity multiple: 0.37×
• Total profit: $-27,285
• Equity at exit: $13,402

Cash invested: $43,400 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 62 Landlord-Friendly
• State Michigan: 62 Landlord-Friendly · EVEN
• County: — inherits STATE
• City: — inherits STATE

7-day pay-or-quit; mixed climate; Detroit/AA have some protections.

Methodology + full state rankings →

ZIP-level market 48198

• Rents YoY: 4.4%
• Active inventory: 166
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,674 high
• Mortgage (P&I): −$813
• Tax from tax record: −$131 /mo · $1,575/yr
• Insurance: −$65
• HOA: −$450
• Vacancy / Maint / Mgmt: −$352
• Net cashflow: $-136

Break-even live

Break-even rent $1,846

Max offer price $130,957

Occupancy floor —

Sensitivity live

Price	-10% $-48	-5% $-92	+0% $-136	+5% $-180	+10% $-224
Rent	-10% $-268	-5% $-202	+0% $-136	+5% $-70	+10% $-4
Rate	-1.0pp $-58	-0.5pp $-97	base $-136	+0.5pp $-176	+1.0pp $-217

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $38,750
• Closing costs: $4,650
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1654 Wiard Blvd Ypsilanti, MI	3.0	1.0	864	$1,800	$2.08	20d	1	1.15mi
1993 Arbor Woods Blvd Superior Charter Twp, MI	3.0	2.0	1056	$1,249	$1.18	16d	1	1.21mi
907 E Forest Ave Ypsilanti, MI	2.0	1.0	882	$1,575	$1.79	20d	1	1.24mi
303 Adams St Unit 301 Oakland, MI	1.0	1.0	991	$2,595	$2.62	45d	1	1.28mi
669 Woburn Dr Ypsilanti, MI	1.0–3.0	1.0–2.0	911	$1,375	$1.51	45d	1	1.45mi

HOA detail condo

• Monthly dues: $450 · $5,400/yr
• Likely covers: waterpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 20 events

1. 2026-05-16
   listed $155,000 Active 1114-char remark

   Show marketing remark (1114 chars)

   This inviting colonial-style end unit condo in Lakeview Estates offers the perfect blend of privacy and community amenities. The main floor features extra natural light in an open floorplan with brand-new flooring (2026) throughout the living room, dining room, and kitchen, while a large doorwall opens from the dining area to your own private, fenced deck - ideal for quiet mornings or summer hosting. Residents also enjoy access to the association's clubhouse and pool, along with the convenience of two dedicated parking spaces, including one covered carport. The living space extends into a finished basement featuring a recreation room, a custom bar area, and a half-bathroom. Beyond the aesthetic updates, the list of recent improvements includes: New water heater (2019), New Furnace and Refrigerator (2022), and New windows in the Living room, back bedroom, kitchen, and basement (2024). Ideally located in Superior Township for study, work, and play, you are just 3 miles from Eastern Michigan University, 2.5 miles from Hyundai America Technical Center, and 1.5 miles from LeFurge Woods Nature Preserve!

2. 2026-05-16
   listed $155,000 Active 1125-char remark

   Show marketing remark (1114 chars)

   This inviting colonial-style end unit condo in Lakeview Estates offers the perfect blend of privacy and community amenities. The main floor features extra natural light in an open floorplan with brand-new flooring (2026) throughout the living room, dining room, and kitchen, while a large doorwall opens from the dining area to your own private, fenced deck - ideal for quiet mornings or summer hosting. Residents also enjoy access to the association's clubhouse and pool, along with the convenience of two dedicated parking spaces, including one covered carport. The living space extends into a finished basement featuring a recreation room, a custom bar area, and a half-bathroom. Beyond the aesthetic updates, the list of recent improvements includes: New water heater (2019), New Furnace and Refrigerator (2022), and New windows in the Living room, back bedroom, kitchen, and basement (2024). Ideally located in Superior Township for study, work, and play, you are just 3 miles from Eastern Michigan University, 2.5 miles from Hyundai America Technical Center, and 1.5 miles from LeFurge Woods Nature Preserve!

3. 2026-05-14
   historical $155,000 1114-char remark

   Show marketing remark (1114 chars)

   This inviting colonial-style end unit condo in Lakeview Estates offers the perfect blend of privacy and community amenities. The main floor features extra natural light in an open floorplan with brand-new flooring (2026) throughout the living room, dining room, and kitchen, while a large doorwall opens from the dining area to your own private, fenced deck - ideal for quiet mornings or summer hosting. Residents also enjoy access to the association's clubhouse and pool, along with the convenience of two dedicated parking spaces, including one covered carport. The living space extends into a finished basement featuring a recreation room, a custom bar area, and a half-bathroom. Beyond the aesthetic updates, the list of recent improvements includes: New water heater (2019), New Furnace and Refrigerator (2022), and New windows in the Living room, back bedroom, kitchen, and basement (2024). Ideally located in Superior Township for study, work, and play, you are just 3 miles from Eastern Michigan University, 2.5 miles from Hyundai America Technical Center, and 1.5 miles from LeFurge Woods Nature Preserve!

4. 2018-10-26
   soldstatus $105,000
5. 2018-10-23
   soldstatus $105,000 Sold

   Show marketing remark (777 chars)

   Tucked in Oakbrook Neighborhood this end unit condominium with a private fenced in corner patio is a must see. New updates include a finished basement, remodeled full bath, updated lighting/fans/smoke detectors, new fridge, above stove microwave, along with a top down-bottom up blind in the nook window. The basement includes recently added bathroom, wood floors, wet bar, and common area. The association provides a carport, seasonal grounds, and a community pool and clubhouse. On the outskirts of Ypsilanti, Canton and Ann arbor, there are many neighborhood parks and a walking path along the country fields. Conveniently located near highways, hospitals, universities and many shopping areas. Appliances included: dishwasher, stove, refrigerator, and above stove microwave

6. 2018-10-23
   soldstatus $105,000 Closed

   Show marketing remark (777 chars)

   Tucked in Oakbrook Neighborhood this end unit condominium with a private fenced in corner patio is a must see. New updates include a finished basement, remodeled full bath, updated lighting/fans/smoke detectors, new fridge, above stove microwave, along with a top down-bottom up blind in the nook window. The basement includes recently added bathroom, wood floors, wet bar, and common area. The association provides a carport, seasonal grounds, and a community pool and clubhouse. On the outskirts of Ypsilanti, Canton and Ann arbor, there are many neighborhood parks and a walking path along the country fields. Conveniently located near highways, hospitals, universities and many shopping areas. Appliances included: dishwasher, stove, refrigerator, and above stove microwave

7. 2018-09-17
   status Pending

   Show marketing remark (777 chars)

   Tucked in Oakbrook Neighborhood this end unit condominium with a private fenced in corner patio is a must see. New updates include a finished basement, remodeled full bath, updated lighting/fans/smoke detectors, new fridge, above stove microwave, along with a top down-bottom up blind in the nook window. The basement includes recently added bathroom, wood floors, wet bar, and common area. The association provides a carport, seasonal grounds, and a community pool and clubhouse. On the outskirts of Ypsilanti, Canton and Ann arbor, there are many neighborhood parks and a walking path along the country fields. Conveniently located near highways, hospitals, universities and many shopping areas. Appliances included: dishwasher, stove, refrigerator, and above stove microwave

8. 2018-09-17
   status Pending

   Show marketing remark (777 chars)

   Tucked in Oakbrook Neighborhood this end unit condominium with a private fenced in corner patio is a must see. New updates include a finished basement, remodeled full bath, updated lighting/fans/smoke detectors, new fridge, above stove microwave, along with a top down-bottom up blind in the nook window. The basement includes recently added bathroom, wood floors, wet bar, and common area. The association provides a carport, seasonal grounds, and a community pool and clubhouse. On the outskirts of Ypsilanti, Canton and Ann arbor, there are many neighborhood parks and a walking path along the country fields. Conveniently located near highways, hospitals, universities and many shopping areas. Appliances included: dishwasher, stove, refrigerator, and above stove microwave

9. 2018-09-13
   listed $105,000 Active

   Show marketing remark (777 chars)

   Tucked in Oakbrook Neighborhood this end unit condominium with a private fenced in corner patio is a must see. New updates include a finished basement, remodeled full bath, updated lighting/fans/smoke detectors, new fridge, above stove microwave, along with a top down-bottom up blind in the nook window. The basement includes recently added bathroom, wood floors, wet bar, and common area. The association provides a carport, seasonal grounds, and a community pool and clubhouse. On the outskirts of Ypsilanti, Canton and Ann arbor, there are many neighborhood parks and a walking path along the country fields. Conveniently located near highways, hospitals, universities and many shopping areas. Appliances included: dishwasher, stove, refrigerator, and above stove microwave

10. 2018-09-13
    listed $105,000 Active

    Show marketing remark (777 chars)

    Tucked in Oakbrook Neighborhood this end unit condominium with a private fenced in corner patio is a must see. New updates include a finished basement, remodeled full bath, updated lighting/fans/smoke detectors, new fridge, above stove microwave, along with a top down-bottom up blind in the nook window. The basement includes recently added bathroom, wood floors, wet bar, and common area. The association provides a carport, seasonal grounds, and a community pool and clubhouse. On the outskirts of Ypsilanti, Canton and Ann arbor, there are many neighborhood parks and a walking path along the country fields. Conveniently located near highways, hospitals, universities and many shopping areas. Appliances included: dishwasher, stove, refrigerator, and above stove microwave

11. 2015-02-03
    soldstatus $62,000
12. 2015-01-30
    soldstatus $62,000
13. 2015-01-30
    soldstatus $62,000 Sold
14. 2015-01-30
    soldstatus $62,000
15. 2015-01-28
    historical
16. 2014-12-19
    historical Active - Contingent
17. 2014-12-11
    listed $66,900 Active
18. 2014-10-28
    listed $66,900
19. 2014-10-28
    listed $66,900
20. 1990-12-17
    soldstatus $58,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast MI · Partial reset (capped growth)

• Current annual tax: $1,575 · $131/mo
• Projected year-2 tax: $1,981 · $165/mo
• Expected delta: +$406/yr (+$34/mo · 25.8%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥98°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,090
• − Mortgage interest: −$8,682
• − Property taxes: −$1,575
• − Insurance: −$775
• − Repairs & maintenance: −$1,607
• − Management: −$1,607
• − HOA: −$5,400
• − Depreciation: −$4,509
• Taxable loss: −$4,066
• Est. tax savings @ 24.0%: +$976
• After-tax cash flow: $-657/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Ypsilanti Community Schools
• NCES district ID: 2636630
• Math proficiency: 11% ▼ -8.00%
• Reading proficiency: 20% ▼ -3.00%
• Median HH income: $37,759
• Composite: 12.98/100
• National rank: #9572
• State rank: #501 of 540 in MI

Livability — Ypsilanti

• Score: 81/100
• State rank: #71
• US rank: #1539

Category grades

Amenities A+ Commute A+ Cost of living A+ Crime F Employment D- Housing A Health & safety A+ User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Washtenaw County · 306,860 people
• City population: 105,769
• Metro: Ann Arbor, MI
• Population (ZIP): 39,244
• Household income: $63,326
• Rent vs Own: 42.5% rent · 57.5% own
• Severe rent burden: 1998.0

Population outlook (Washtenaw County) Hauer SSP2

• Today (2025): 402,878 people
• By 2030: 424,104 · +5.3%
• By 2040: 464,633 · +15.3%
• By 2050: 504,728 · +25.3%
• By 2075: 614,463 · +52.5%
• By 2100: 676,181 · +67.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.66)
• Race & ethnicity: White 48% Black 32% Two or more races 11% Hispanic / Latino 8% Asian 2%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Romanian 3% Italian 2% Slovak 2%
• Foreign-born: 9% · Canada, China, South Korea
• Languages at home: 88% English-only · Spanish 7% Other Indo-European 1% Arabic 1%

Political lean MEDSL · Washtenaw

• 2024 margin: Solid D (+44.4) · D 71.0% · R 26.6% · Other 2.4%
• 2008→2024 swing: +3.5pp toward D · 2008: 41.0pp · 2024: 44.4pp
• All cycles: 2024: D+44.4 2020: D+46.6 2016: D+41.5 2012: D+36.0 2008: D+41.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -224.96%
• Current HPI: 204.1228
• Rent YoY: ▲ 4.38%
• Metro: Ann Arbor, MI
• State GDP YoY: ▲ 1.37%
• F500 in state: 28

Industry mix (Fortune 500 HQ in MI)

Industry	F500 HQs	Revenue
▸Automotive Parts	3	$48B
▸Automotive	2	$372B
▸Chemicals	1	$45B
▸Automotive Retail	1	$29B
▸Healthcare / Medical Devices	1	$23B
▸Automotive Technology	1	$20B

Price history

+167.2% since first listed

22 events — show timeline

• 2026-05-21 Pending — MiRealSource-MiMLS
• 2026-05-21 Pending — REALCOMP
• 2026-05-16 Listed $155,000 MiRealSource-MiMLS
• 2026-05-16 Listed $155,000 REALCOMP
• 2026-05-14 Coming Soon $155,000 MiRealSource-MiMLS
• 2018-10-26 Sold (Public Records) $105,000 Public Records
• 2018-10-23 Sold (MLS) $105,000 MiRealSource-MiMLS
• 2018-10-23 Sold (MLS) $105,000 REALCOMP
• 2018-09-17 Pending — MiRealSource-MiMLS
• 2018-09-17 Pending — REALCOMP
• 2018-09-13 Listed $105,000 MiRealSource-MiMLS
• 2018-09-13 Listed $105,000 REALCOMP
• 2015-02-03 Sold (Public Records) $62,000 Public Records
• 2015-01-30 Sold (MLS) $62,000 SW Michigan MLS
• 2015-01-30 Sold (MLS) $62,000 MiRealSource-MiMLS
• 2015-01-30 Sold (MLS) $62,000 AAMLS
• 2015-01-28 Listing Removed — MiRealSource-MiMLS
• 2014-12-19 Contingent — AAMLS
• 2014-12-11 Listed $66,900 AAMLS
• 2014-10-28 Listed $66,900 SW Michigan MLS
• 2014-10-28 Listed $66,900 MiRealSource-MiMLS
• 1990-12-17 Sold (Public Records) $58,000 Public Records

Property tax history

+4.0%/yr

Latest (2025): $1,575 · +2.7% YoY. Source: county tax records.